Posts Tagged as Home Sellers

Fall 2019 May Be a Better Time for Listings and Sale Than the Projections for 2020

Fall 2019 May Be a Better Time for Listings and Sale Than the Projections for 2020

2019 is not expected to continue the trend of high-flying home prices and rapid sales. Despite this, real estate selling experts indicate that 2019 is the best time to list a home. What gives? The remaining months are predicted to be a better market than 2020-21. For those on the fence weighing the option to sell, it could be unwise to play the waiting game.

Why is 2019 Expected to Be Better for Real Estate Selling?

• New buyers are still venturing into the market.

The affordability factor has weighed down the market. There will be no flood of buyers this year – more like a steady trickle. This will slow home price increases and extend listing times. Although housing inventory remains low, particularly in the starter-home market, high-traffic shopping will continue.

The largest segment of buyers is expected to be Millennials. In a recent Trulia poll, one-fifth of Millennials anticipate purchasing a home in 2019. 

• Interest Rates Remain Low

2019 has not seen the multiple rate hikes anticipated. More recently, lowered interest rates have brought the 30-year fixed rate down to around 3.58%. Even if a raise were to occur, rates will probably remain near their historical lows. With no sudden leaps anticipated, now is a great time for buyers to lock-in low rates.

• Equity Cash-In

For sellers holding a home they purchased during or shortly after the recession, there’s a lot of equity at stake. The more equity in the home, the higher the net from the sale that can be used toward a down payment on another house. The greater the down payment, the lower the interest rate, reducing monthly payments and the need for PMI.

Don’t miss out on prime sales opportunities. Ensure maximum return-on-investment with real estate selling tips and tools from Properties Online today.

How to Help a Seller Pay Closing Costs

3 Tips to Get Sellers to Pay the Buyer’s Closing Costs

Every real estate agent knows that the more you can do to sweeten a deal, the better chance you have of selling a home. Plus, it shows just how willing you are to go above and beyond for the client.

One of these ways is get the seller to cover the closing costs for the buyer. It’s not always easy to do, but it is possible. In fact the latest real estate trends are showing that more buyers are looking for deals that include this distinction. But the question is, how do you get the seller to agree?

Buyers Pay the Home’s Asking Price

This has been seen more often lately in the latest real estate trends. The buyer will make an offer with the homes asking price contingent on the seller covering the closing costs. This allows people to purchase a home with no money out of pocket, whatsoever. Your clients will love that.

Plan on a Quick Closing

With some financial institutions, it can take as long as two months to close on a house; sometimes even longer. You may have a better chance of getting the seller to pay the closing costs if you commit to a very quick close on the property. This works best with motivated sellers who have already purchased a home elsewhere.

Make no Demands

It’s possible that the house might need a coat of paint, or a few minor repairs. But if you want the seller to pay the closing costs, it’s best not to bring them up. The buyers should plan on making these changes themselves.

If you’re a real estate agent, you need all the help you can get to be successful. The tools we offer can help propel you to the next level in your career. Contact us today!

Don’t Let the Bed Bugs Bite: Bed Bug Issues in Real Estate Sales

Don’t Let the Bed Bugs Bite: Bed Bug Issues in Real Estate Sales

It’s a nightmare scenario. A buyer moves into their would-be dream home, only to find uninvited residents: bed bugs. As infestations rise nationwide, bed bugs are increasingly affecting real estate sales transactions.

Know the Signs

Bed bugs are equal opportunity pests and “dirty” has nothing to do with it. These masterful menaces hitchhike their way into luxury apartments, suburban homes, even the local library and theater. Though not known to carry disease, their nighttime shenanigans are cause for severe physical and psychological discomfort. How can you identify these pests?

– Like mosquitoes, they come out at night to drink blood, leaving behind itchy red welts on their victims.

– With apple-seed-like bodies, bed bugs hide in the nooks and crannies of mattresses and sheets.

– They often leave behind dark fecal/blood stains on linens, mattresses, box springs, and carpets.

– Pearly-white, pea-sized egg deposits may be found along headboards, electrical plates, baseboards, and window casings.

– White, rice-like, exoskeletons from moltings are often found under area rugs.

Discuss Disclosure Dilemmas:

Seller Beware

Though real estate sales agreements are broad, and don’t typically list bed-bug-specific issues, this doesn’t mean sellers are off the hook. Failure to list a bed bug infestation could be seen as a breach of disclosure of latent defects, leaving sellers liable for litigation.

Buyer Beware

Until states begin to incorporate bed-bug-specific realty regulations, hiring a pest control company, in addition to the typical home inspection, could be money well-spent.

Don’t Delay

If home sellers or new residents come across bed bugs, advise residents to seek professional help ASAP. Some home remedies are dangerous, and tossing bug-ridden items spreads bed bugs to neighbors. Bed bugs reproduce rapidly, and infestations can be costly to treat: $250-900 per room, and up to $5,000 for extreme infestations. Timely treatment is imperative.

Don’t let your career fall victim to bed bug bites. Stay informed on the latest issues effecting real estate sales with Properties Online today.

Things You Don’t Know About Mold that Could Land You in Hot Water

Things You Don’t Know About Mold that Could Land You in Hot Water

Mold is a hot-button topic in real estate sales. Today’s tightly-sealed, more efficient buildings provide an ideal environment for its growth, and as public awareness of the issue grows alongside multi-million-dollar mold settlements, it pays to stay on-point when it comes to evolving mold legalities.

You Aren’t Required to be a Mold Expert – But You Can’t Stick Your Head in the Sand

While it’s not up to you to detect and diagnose mold issues, you must be knowledgeable and aware of the basic signs of mold to protect your clients (and your reputation). Red flags include:

– Musty, mildewy odors.

– Stained walls, ceilings, and baseboards, from common to multi-colored varieties.

– Plumbing leaks and drainage problems.

What to Do if You Suspect Mold & Why You May be a Target

Unfortunately, for most states there are no standard practices in effect – though that is rapidly changing. California recently enacted the country’s first mold legislation, listing standards for acceptable indoor levels and requirements for home seller disclosure.

In the wake of recent lawsuits and legislation, home inspectors and pest control operations are rapidly adjusting disclaimer legalese to limit their liability, with homeowners insurance companies commonly limiting compensation. Thus agents should be prepared for the possibility of agent liability with buyer clients in real estate sales involving mold issues.

Tips to Reduce Liability and Protect the Health of Your Real Estate Career:

1. Be diligent about checking for red flags, including odors and visual cues.

2. If you notice mold, carefully word disclosures, avoiding ‘black mold’ and ‘toxic mold’ verbiage. You’re not offering expert analysis. Be generic: Note ‘mold-type’ or ‘mildew-like’ staining/odors and their location(s).

3. Refer clients to ‘contact a qualified specialist for review,’ insisting potential buyers have their own, independent home inspection conducted.

4. Get to know mold experts in your area. Provide a list, but do not recommend particular vendors.

Real estate sales problems growing like mold? PropertiesOnline can help.

Shutting Down the Money - Chinese Real Estate Investments Dry Up

Five Signs That Sellers are Itching to Unload

Every seller wants to sell their property – otherwise they wouldn’t be listing. But sometimes sellers get a bit carried away. And smart real estate buyer’s agents know the signs: The signs sellers need to get out of Dodge. With the right foresight, you and your clients can snag a sale fast – and at a great price.

Five Signs the Seller is Itching to Sell:

1. The listing is screaming for a buyer.

Common signs include multiple price reductions, asking price below market value, and ‘cash only’ transactions.

2. New family additions.

Multigenerational family situations, from beds in the family room or den bearing in-laws, to a crib crammed into the corner of the closet of a parent’s bedroom, are bright, flashing neon signs sellers need to move – and yesterday.

3. Sellers answer questions candidly and quickly…

Noting problem areas such as the need for a new roof or past flooding issues without batting an eye. Sellers don’t usually disclose such information, in hopes of eking out every last dollar from the sale of their home. But desperate sellers will, in hopes of preventing any last-minute sales snafus that could have them waiting ever longer for another seller to come along who is capable of catering to such issues.

4. The seller doesn’t live in the house anymore.

Real estate buyers agents should know right away, if the home is vacant, it’s game-on. The seller cannot cover two mortgages over an extended period of time without their finances taking a serious hit.

5. The home is listed as an estate.

Heirs to an estate are often anxious to sell the home of the original owner, and are often more willing to move on price in efforts to liquidate assets and move-on.

Stand out from the average real estate buyer’s agents, bringing more to the table with the help of Properties Online today.